1,492,506 Shares in Lincoln Electric Holdings, Inc. $LECO Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,492,506 shares of the industrial products company’s stock, valued at approximately $52,700,000. Hsbc Holdings PLC owned approximately 2.74% of Lincoln Electric at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. bought a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $29,000. Elyxium Wealth LLC bought a new position in shares of Lincoln Electric during the 4th quarter valued at approximately $27,000. State of Wyoming purchased a new position in shares of Lincoln Electric during the 2nd quarter valued at $69,000. United Community Bank purchased a new stake in shares of Lincoln Electric during the 4th quarter valued at approximately $65,000. Finally, Root Financial Partners LLC lifted its holdings in Lincoln Electric by 118.8% during the 1st quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Price Performance

Shares of LECO traded up $2.60 during mid-day trading on Monday, hitting $259.80. 124,872 shares of the stock were exchanged, compared to its average volume of 387,812. The firm has a 50-day moving average of $268.47 and a two-hundred day moving average of $263.38. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The company has a market cap of $14.16 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.60 earnings per share. On average, equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is 31.57%.

Analyst Ratings Changes

LECO has been the subject of several recent analyst reports. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $257.00 to $283.00 in a research note on Monday, August 10th. UBS Group assumed coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target on the stock. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Finally, DA Davidson began coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.22.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.